JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened higher 0.9% to 5006 this morning to tracking gains in regional, and Wall Street.
Investors collected back stocks after the Federal Reserve said it would not lift interest rates until the U.S. economy was sufficiently strong.
Astra International gained 1.12%, Alam Sutera rose 1.14%, Bank Rakyat Indonesia increased 1.73%, Bank Mandiri hiked 1.05%, Bumi Serpoong Damai lifted 1.38%, Lippo Karawaci climbed 1.64%, Jababeka rose 1.54%, and Timah gained 1.22%.
Investors in Indonesia remain concern over the local political risks. More political uncertainties go forward following election of new leadership of MPR, won by the opposition group (Red-and-White coalition).
But some expect a strong government would match strong legislative/opposition. It is time to buy local stocks, especially those currently valued below their equities, one investor commented.
Nymex’s crude oil rose 0.54% to US$87.78 per barrel in Asian trading this morning and gold increased 1.53% to US$1,224.50 per ounce.